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20121201
20121231
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this, bob pisani and john carney of cnbc. gentlemen, welcome. bob, i get how this is not helpful to workers. you lose the benefits of any dollar cost averaging. you may be ending up getting a lump sum at the end of the year. and if you leave the company before the end of the year, you don't get anything. but what's the real ben fet efi ibm? >> they save on administrative and accounting and they may have even constudies that indicate they'll actually save by make being the lump sum payment because you don't have to put it in certain times of the year and there may be overall cost savings for them. i don't think this is good news for employees at all. it's not just the loss of dollar cost averaging. i think that people may end up putting in less to their account and that's the overall issue. >> i guess savings might accrue from a fact if a worker leaves in july, ibm will have put nothing in for their worker or september or october or whenever. you got to be there into late december to get something so there are some savings there, but beyond that i don't get it. >> i bet what they'
, therefore, that will lead us in terms of price action over the next five days. bob pisani? >> if you look at the interday, we were positive on the day earlier on. we dropped in the middle of the day and some people are attributing this to concerns that the house leadership did not issue the 48 hour call for the whole house to come back into session and vote on a proposed plan even though there isn't one out there, some are interpreting this to mean there will be no deal certainly going into the weekend. of course, the time period on which we can do something now gets smaller and smaller. let me show you a couple sectors here. we talked about this mastercard report on sales only up 0.7%. luxury retailers getting hit hard. can i just point out that none of these luxury retailers have done very well this year. tiffany, coach, ralph lauren are negative on the year and have been even before today's report. michael kors is the standout in luxury. remember they went public about a year ago. that's had a great run, up about 60% this year. but that's the standout in retail. can i also point out th
are trading at $551.33. bob pisani joins me on the floor of the nyse. it started with this idc report citing the fact that they would lose their dominance in the tablet market in probably the next couple of years, and then the margin requirement story. >> it is a little complicated. i just want to address this issue first of the rally that we've got because i think that is sort of what's moving the overall market. there is some vague talk in washington that there may be some republican members starting to break ranks with the leadership on the tax issue. there's talk now that some republicans might be willing to accept higher taxes for the wealthy. this would be a break-through. we're monitoring that. now to what sue was talking about on apple. there are some firms raising margin requirements. i think the main catalyst today was an at&t investor conference where executives of at&t gave sales figures for smartphones for the first two months of the quarter that basically implied sales will be flat for the quarter compared to the same period last year. this includes smartphones, samsung as well
right, sharon, thank you very much. i'm here with bob and michael once again. bob, we will start with you. up 75 point on the dow jones. we still have the fed news conference to go, though. >> yeah, here is what is important. there is a tug-of-war going on between the stock market and book market. stocks love stimulus. infinite for stimulus. stim lut infinity. if you look at major sectors. big global gloej areas. industrials, materials, all of your energy stocks. all are kind of moving to the upside today. here is the problem. the bond mark set scared to death of the inflation implications of what the fed is doing today. so if you look at bond yields you will see a big move up in bond yields. if you look at the dollar, the dollar weakened because of course, stimulus means of course cheaper dollar over all. there is a real tug-of-war going on between the stock and bond market. >> we were talking earlier that bond market sees there is a finish line. once we have numbers pegged, they say, rates aren't going to be low forever. if the bond market sees unemployment at 6% or 6.99%, you
at this point. that's why we have a triple digit advance, up 114 points on the dow jones industrial average. bob pisani with some trading action. the market is aching for a deal. any time we get any sense they are making not even a deal, just they are talking. >> plan b by boehner is a very modest proposal as steve pointed out. the market doesn't care. it's almost as if boehner and obama are in the way and they have to get out of the way. the market deal, even if there isn't a deal, two-month highs on the s&p. look at that, highs of the day, even if you want to be pessimistic, there's not a lot necessarily here that's been going on today. s&p up 14% for the year, folks. we've got a number of new sectors, new highs, financials at new highs, s&p sectors, consumer discretionary group, retailers and home builders also at new highs. look at these home builders, up 4%. an average increase this year. banks and home builders are the two big winners this year. >> kenny, come on in. an independent trader down here at the nyse. mr. geithner in the mix. the administration uses him very effectively to talk t
about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still very important here. take a look the dow industrials. remember, we started moving down right after we saw mr. bernanke give his press conference. we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that again today. we are repeating what happened just a few months ago. i think that's why it is very important. elsewhere, defense stocks. here is a group that's very worried about frustration when mr. bernanke
over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >> we were up a little while ago, now we're down. i think what happened, the senate majority leader harry reid came out with a couple of comments. he said any program, any deal that's out there must include a stimulus component -- really? a stimulus component? he said rates have to increase to 39.6% as part of any deal. the dow drifted lower on that because people were arguing you should have a 37% as a compromise on the tax rates. >> mr. geithner yesterday when speaking exclusively to steve leisman seemed to really avoid that 39% number. that encouraged a lot of people thinking that perhaps that is a flexible number. >> let's hope it is. but the senate majority leader says -- specifically said 39.6. i think that's specifically the reason we took a little bit of a dive a while ago. either side are positive or negative. but
at the end of the year as a lot of retail investors want to put money to work. back to you. >>> back to bob pisani here on the nyse floor. we're down 30 points. couple of the guys came by the post and said let's see what happens at 2:00. the president is going to take to twitter. if you listen to the sunday talk shows it sounds like there is no movement whatsoever. >> yet it's not killing the markets. it's surprising a lot of people, i think. we're not moving to the downside that dramatically. about even on the advance-decline line. the dow jones industrial average was at a multi-week high this morning as we opened up. we were down 12,500 two weeks ago. so not bad sideways today. not bad at all. i think the concern is the ism number weakened the market baltimore than the fiscal cliff propped up by greece. tech has not had a very good run recently. up today, dell got an upgrade at goldman. sharon talked about gold. it may be that gold has not done too bad this year but gold stocks are not outperforming. again today they are on the downside. this has been a year of buying gold, not so much bu
in 2008. was he the right choice this year, bob? >> well, if you go by their criteria of the most influence in the world of better or worse, can you make your argument. my argument for person of the year would be the central bankers of the world. from bernanke to the people at ecb, all the way to the bank of japan. those people had the biggest impact -- >> you are a finance guy. god bless you. >> i'm a little nerdy. sorry about that. >> we should do our own cnbc show. >> it is present company excluded. >> good call, john? >> no. really boring. really safe. not a very good call at all. he agree with bob here. absolutely. the central banker was the person of the year, same way the personal computer was years ago and you were, you know, as they put up a mirror, the most influential people this year were central bankers from japan to the united states to europe to mark carnie pulled out of canada to be uk central banker. that's the big story. >> my people of the year would have been the teachers and students of sandy hook elementary. i think they have changed america forever. sue? >>
we just heard from kenny and from bob. kenny, you were shaking your head, so angry at what is going on down there. the mark set telling them to get to work. and it's ridiculous, nothing is happening. >> i think the mark set tired of giving them a free pass. i think the last couple weeks, the market has been giving them room to negotiate. i think after what we saw last night, the mark set disgusted as it rightly should be, as our investors. >> thank you. sorry. >> i think this story today that they are trying to say this is strategic on boehner's part. i'm scratching my head. what is strategic in grand standing about how to pass it. then pulling out because he had no support at all. then today the senator saying, they misunderstood. what did they misunderstand? >> yeah. i think the important thing -- by the way, john harwood is hysterical describing what happened. that perfect. there are people trying to buy the lows of the day right after the open. remember this is quadruple witching. so there is a lot of volume down here. now we are essentially sitting a lows of the day. as we brea
the dow jones industrial average is up. bob joins me, they are really hoping that they can get in done and get it done before christmas. this mark set dieing to get a deal. >> it is very something, do nothing is off the table. that's a substantial move. did anything happen? yeah, it did. you can see in the market, stocks that haven't not much recently are doing something. look at that, 3% moves on some big names. home builders are up nicely. they have been largely side ways since earnings came out. 5% on all the home builders. the treasury many etfs, slowly moving down, maybe deflating a little bit. we will talk about that in the last half hour. i get asked a lot about why is hewlitt packard down so much today? there is a somewhat negative article in the guardian, a london newspaper, questioning meg whitman's leadership, and that's probably it there. that's the only thing i have been able to find. >> ty, back to you. >> using power whatever this office holds to safeguard the nationes a children following the school massacre in newtown, connecticut. raising the prospect that he will goo
? who would have thought? i did. we did, bob. we did. got it. made a retirement plan, they considered all her assets, even those held elsewhere, giving her the confidence to pursue all her goals. when you want a financial advisor who sees the whole picture, turn to us. wells fargo advisors. >>> as we give you a market check on this new york stock exchange. a lot of the monitors are on news channels covering the shooting in connecticut, the industrials down 4.5% at 13,166. the s&p 500 basically flat at 1416. the nasdaq composite down 14 points as apple continues to slide just a little bit. there's some of the new york stock exchange activities including one stock of great note today. best buy, david favor reporting that the company has given
about 18% year to date. back to you. >> thanks so much. bob pisani is here on the floor of the nyse, steady as she goes, caught in the narrow range today. >> sectors either side of positive or negative, a few individual groups are meeting, i want to highlight, a lot of questions about the retailers. historic high yesterday a number very weak. a lot of questions on gap. the reason gap is down is made some very cautious comments on gap, citing competition concerns, specifically talked about kohl's high inventory level that might cause them to be aggressive with promotions. weather unseasonably warm, not good for apparel. consumers hesitant. dashed.came out cutting guidance, own red lobster, cited consumers out there. playing in with the slight consumer slow down trend, see the notable restaurants down three 3, 4 or 5%. finally, sue, the bank index dropped here today and i can telling you the reason for that one today. elizabeth warren named the senate banking committee. ms. warren is a leading supporter of being very aggressive on banking regulation. the minute we sort of got confirma
for the bulls, up 106 points on the dow jones industrial average. let's get trading action. bob pisani joins me. that's despite gridlock in washington. >> maybe because of it. take a look at dow jones industrial average. we were up, speaker boehner gave us an update and basically said where is the president on the spending cut issue. we lost ground on that particular news. a couple of sectors doing well. tech outperforming, ambassadors trying to find a trading range between 5 and $6hup, a little more stable. texas instruments raised outlook, chip marks, alter, a, jds among gains. what sequestration worries, they continue to defy gravity. second group strong, airline stocks. good news, delta taking a 49% steak in virgin air, maybe more consolidation. booking trends good recently. a minimal impact from business travel on sandy overall, jet fuel prices continue to drop. let's talk about exchange traded funds. you know them. i'm a big backer. matt hogan here moderating a conference master of all things etfs. we're continuing to see money going in. what's going on? why is etf so high? >> a couple of
bob corker was on our air earlier today and he laid out sort of what the political challenges here for republicans. take a listen. >> it sure seems to me that we're negotiating about something that makes it appear that all we are trying to do is protect the rich. er with not at all focused on entitlement changes which is the only thing that will save our country. >> so when the speaker now briefs his republican leadership colleagues about whatever was in that meeting yesterday, the trick for him is going to be to present it in a way that he gets there and continues to have support. there is mumbling and grumbling about a particular challenge to speaker boehner about republican colleagues early in the new year. that is something the speaker would like to avoid. he has it find a way to get a deal and keep his job at the same time. all of that is tricky can be tyler. >> thank you very much. let's go to the exclusive patented trade mark cliff-o-meter. are we closer to a deal? no deal. we call it right now, right in the middle. that is closer to a deal than it was late last week. basica
Search Results 0 to 14 of about 15